North American Air Compressor Market is Expected to Reach $7.1 Billion, by 2021

North American Air Compressor Market is forecast to reach $7.1 billion by 2021, growing at a CAGR of 6.7% during the forecast period (2016 - 2021), according to a new report published by Allied Market Research. The North Americann market highlights the potential of centrifugal air compressors, which represented around 17.6% of the total market size by value in 2014. The centrifugal air compressor market is expected to attain thrice its current market size by 2021, representing around 34% of the total market size by value.

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The oil-lubricated air compressors contribute major revenue share of North Americanair compressor market and would continue driving the market through 2021, owing to higher durability and ability to withstand heavy load in commercial and industrial applications. Based on mobility, the air compressor systems are segmented into stationary and portable models. The stationary air compressor market generated higher revenue in 2014 accounting to around 58.2% market share. These air compressors are projected to dominate the market throughout the analysis period, due to their applications in heavy-duty industries such as mining, manufacturing, and construction. The portable air compressors are useful in on-site construction applications, FMCG industry and medical & pharmaceutical purposes. Conclusively, applications of air compressors are observed in numerous industries including FMCG, oil & gas, manufacturing, electronics assembling and automotive among others, owing to energy efficiency, eco-friendliness and portability of these machines. Additionally, the increased oil exploration activities in U.S.A. and Mexican territories are driving the usage of heavy duty air compressors in the region.

Key findings of the study:

1. The market of centrifugal air compressors is expected to grow at a CAGR of 17.3% during 2016 - 2021

2. The portable air compressors would experience increase in adoption during 2016 - 2021, generating about 45% of the market revenue by 2021

3. The ability to operate with optimum power requirement and supply quality air output should increase adoption of air compressors among the non-industrial usages

Atlas Copco, Ingersoll Rand, Kobe Steel, Ebara Corp., Sullair, VMAC, Mitsubishi Heavy Industries Ltd., Campbell Housefeld, Sulzer, and Porter Cable are the major market players profiled in the report. Among the various strategies adopted by these key players, product launch has emerged as the prime strategy which has been adopted by most of the players.

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